PRINCETON EQUITY GROUP ANNOUNCES STRATEGIC INVESTMENT IN STRICKLAND BROTHERS
Princeton Equity Group, a leading franchise and multi-unit private equity firm, announced the completion of its strategic investment in Strickland Brothers, a high-growth operator and franchisor of drive-thru, 10-minute oil change and automotive maintenance service centers. With a vision to build Strickland Brothers’ national footprint, Princeton Equity Group’s partnership will bring additional resources and support to the fast-growing franchise and its corporate ecosystem.
“We are thrilled to partner with this talented management team to foster the growth of Strickland Brothers,” said Jim Waskovich, co-founder and managing partner of Princeton Equity Group. “Strickland Brothers has built a phenomenal culture for its customers and franchisees. We look forward to participating in the next chapter of the company’s trajectory, preserving its core values and elevating the quality of franchisee support and customer service.”
Strickland Brothers opened its first location in 2016, offering a signature 10-minute oil change designed to maximize the customer experience. Providing dependable services and quality products for a fair price within an honest, friendly and accommodating environment, the company never pressures customers to buy services or parts that are not immediately needed. It’s that friendly, hometown service that has grown Strickland Brothers to 26 corporate locations across seven states and led the company to begin franchising in 2020.
Strickland Brothers is one of the fastest-moving franchise concepts in the country. It has awarded 165 new franchise licenses in the last 12 months and has opened nine new franchised locations to-date. Founder Justin Strickland and his management team will remain in their current roles with the company to continue to grow the business. Terms of the investment were not disclosed.
“This investment is a testament to our track record, and we are excited to have the team at Princeton Equity Group support our aggressive plans for growth,” said Justin Strickland, CEO of Strickland Brothers. “Our shared values and vision for the Strickland Brothers brand will allow the company and our franchisees to continue providing excellent customer service at a much larger scale. Our franchise partnerships are important to us as a brand but also to our corporate team personally. Princeton showed throughout the process that their view of how franchise partnerships should be treated matches ours, and that is mission critical for us.”